Rupee loses 11 paise in early trade

December 24, 2012 10:13 am | Updated 10:13 am IST - Mumbai

The rupee on Monday lost 11 paise to 55.17 against the US dollar in early trade on the Interbank Foreign Exchange due to appreciation of the American currency against the euro and other rivals overseas.

Month and year-end demand for the dollar from banks and importers also put pressure on the rupee.

Dealers attributed the rupee’s fall to dollar gains against the euro overseas and sustained demand for the American currency from importers to meet their month and year-end requirements.

The said, however, a higher opening of the domestic equity market, capped rupee’s losses.

The rupee had closed 21 paise lower at 55.06 a dollar on Friday.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.